Victor Pody shot this Rex Saab 340B, VH-RXE. Rex is set to leave voluntary administration and avoid a government takeover after being sold to a US-based buyer. “As outlined in Rex’s ASX release on 17 June 2025, the Administrators have received a number of offers from interested parties in connection with the process for the…
Regional airline Rex has a US buyer, administrators have confirmed. The announcement on Tuesday evening comes more than a year after the airline entered voluntary administration. Air T – which operates a number of aviation businesses in the US – has entered a sale and implementation deed with EY, the administrators of Rex. Sign up…
Supreme Court: The Division Bench of J.B. Pardiwala and K.V. Viswanathan, JJ., issued notice to the respondents, returnable in four weeks, in a civil appeal raising following two significant questions of law: whether the Insolvency and Bankruptcy Code, 2016 (‘IBC’) overrides the provisions of the Industrial Disputes Act, 1947 (‘ID Act’). whether a Resolution Professional…
Global insolvencies to peak in 2026 amid trade shifts: Allianz Insurance Business America Read the original article here
The National Company Law Tribunal (NCLT) in Ahmedabad has admitted BluSmart Mobility Tech Private Limited, the technology arm of the electric taxi fleet operator BluSmart, into corporate insolvency. The order was passed on October 14, 2025, on a petition filed by one of its software vendors. The tribunal’s decision came on an application filed by…
U.S. fashion and footwear firms are in good shape, compared with other categories when it comes to corporate bankruptcies. Thus far in 2025, there’s been just two fashion firm bankruptcies with liabilities over $1 billion — Claire’s Holdings LLC in August and Forever 21’s U.S. store operator and brand licensee F21 OpCo LLC in March…
FORNEBU, Norway, Oct. 17, 2025 /PRNewswire/ — An extraordinary general meeting of Aker Carbon Capture ASA (under liquidation) (the “Company”) was held today as a digital meeting with online participation. All resolutions were made in accordance with the proposals set out in the meeting notice published on 29 September 2025. The general meeting resolved to approve…
Project-wise insolvency in real estate may get statutory backing in new IBC draft bill Moneycontrol Read the original article here
The Mumbai bench of the National Company Law Tribunal (NCLT) admitted the Section 7 Insolvency and Bankruptcy Code,2016 (“I&B Code”) petition filed by the petitioner for Rs 6.49 crore, holding that the default occurred before the COVID-19 moratorium. The Tribunal rejected the limitation and Section 10A objections and appointed Mr Santanu T. Ray as Interim…
Global insolvencies to peak in 2026 amid trade shifts – Allianz Insurance Business America Read the original article here